XXIX Gets Permit to Drill Thierry Copper Project in Ontario

XXIX has received an exploration permit to drill its Thierry copper project in Ontario, marking the first large-scale drilling program at the site in over 40 years. The permit allows for a planned 20,000-metre drill program across two phases, with phase one set to begin in early July. This milestone clears the way for the company to systematically test the project's potential after decades of inactivity, leveraging modern exploration techniques to reassess the resource.

The Thierry project hosts Ontario's largest primary copper resource, comprising the near-surface, bulk-tonnage K1 zone and the high-grade, past-producing K2 zone. XXIX has rebuilt and reinterpreted 210,000 metres of historical diamond-drilling data into a modern, validated geological model, supporting an updated interpretation that the company aims to test with this program. The project is 100%-owned and royalty-free, giving XXIX full exposure to any resource expansion. Copper is a critical metal for electrification and renewable energy infrastructure, and supply constraints have kept prices elevated. Advancing projects like Thierry could help meet future demand, making this permit a significant step for the company and the broader copper market.

For commodities traders, this development signals potential future supply from a major undeveloped copper asset. Copper prices remain sensitive to supply constraints, and news of advancing projects can influence market sentiment. Traders can track copper price movements on NowPrice's live commodities dashboard. The next catalyst will be the drill results from phase one, which could lead to a mineral resource update and further define the project's economic viability. Positive results may boost investor confidence and support copper price expectations, while negative outcomes could temper near-term supply outlooks.